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Disaster Recovery

Have you tested your Disaster Recovery Plan? Your institution probably has a documented plan in place, but it isn’t uncommon for financial institutions not to test it. How will you know of any flaws, or if it will even work? The disaster recovery plan should be tested on a regular basis (a few times a year) and the plan should be updated based on the results of the actual disaster recovery test. The test should include both internal and external resources and a checklist of all business functions needed to resume normal operations even during a crisis event.

In order to create an efficient and reliable plan, it is important to include vital features. The following should be included in all disaster recovery plans: risk assessment and business impact analysis, priorities for processing and operations, recovery strategies, testing criteria and procedures, input from all critical parties, and management commitment. Disaster recovery plans can fail because of the lack of participation from the parties necessary for execution. Sometimes a plan lacks the resources for IT support or the plan becomes outdated because it isn’t tested often enough. Make sure your disaster recovery plan is the best it can be in case of a crisis event were to occur.

VSoft can provide disaster recovery technology consulting services to help improve your existing plan. We also provide a disaster recovery infrastructure to be hosted at the data center and provide periodic updates from production systems to the disaster recovery system. It is critical to develop a well thought out process to ensure the continuity of business functions and to execute the testing to understand the results.

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“Our decision to implement VSoft’s eDesk remote capture solutions has resulted in new business opportunities to serve other banks, as well as merchants. With these imaging capabilities, we are processing checks for 11 other banks in Tennessee, North Carolina, Virginia, and one bank in the Virgin Islands. In addition, we have reduced much of our back-office work and have introduced same-day funds availability for our commercial clients.”